Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) Sees Significant Growth in Short Interest

Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 5,756 shares, a growth of 93.5% from the June 15th total of 2,974 shares. Based on an average daily trading volume, of 9,596 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.1% of the company’s stock are short sold.

Direxion Daily NYSE FANG+ Bull 2X Shares Stock Down 3.5%

FNGG stock traded down $8.33 during trading on Friday, hitting $227.67. 5,461 shares of the company’s stock traded hands, compared to its average volume of 10,036. The firm has a market capitalization of $120.67 million, a P/E ratio of 42.08 and a beta of 2.82. The business has a fifty day simple moving average of $235.18 and a two-hundred day simple moving average of $202.49. Direxion Daily NYSE FANG+ Bull 2X Shares has a 1 year low of $139.12 and a 1 year high of $276.00.

Institutional Investors Weigh In On Direxion Daily NYSE FANG+ Bull 2X Shares

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its holdings in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 223.2% during the third quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock valued at $155,000 after buying an additional 442 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in Direxion Daily NYSE FANG+ Bull 2X Shares by 1.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 12,024 shares of the company’s stock worth $2,480,000 after buying an additional 177 shares during the period. Simplex Trading LLC increased its holdings in Direxion Daily NYSE FANG+ Bull 2X Shares by 228.7% in the 4th quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock worth $397,000 after buying an additional 1,340 shares during the period. Wealth Watch Advisors INC purchased a new position in Direxion Daily NYSE FANG+ Bull 2X Shares during the 3rd quarter worth approximately $109,000. Finally, Meadowbrook Wealth Management LLC purchased a new position in Direxion Daily NYSE FANG+ Bull 2X Shares during the 2nd quarter worth approximately $340,000.

About Direxion Daily NYSE FANG+ Bull 2X Shares

The Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG) is an exchange-traded fund that is based on the ICE FANG 20 index. The fund provides 2x the daily price movements of an equal-weighted index consists of FANG stocks and other growth stocks of technology and tech-enabled companies. FNGG was launched on Sep 30, 2021 and is managed by Direxion.